How long should a will last?
When an estate-planning attorney was asked, "How long should a will last?" The answer was simple: "How long is the person alive?" That question might seem rather cynical, but it does reflect the importance of will maintenance. A will is only as good as its ability to take into account changing circumstances. As you grow older, your financial outlook may change and your family may grow or shrink. You may get married or divorced; you may have children from a previous marriage. The sooner you update your will to reflect these changes, the better for you and your loved ones. Even if a will is never updated again, it's still vital that it's reviewed at regular intervals to ensure that it's being carried out properly and that no important information is left out. If you've recently gotten married, divorced, had children, or lost a loved one, be sure to speak with an attorney about how these changes affect your will and trust.
A will is a vital part of estate planning and ensures your wishes are carried out when you're gone. However, this doesn't mean it should be left up to chance - you don't want a will that expires 10 years after your death. A will only needs to be updated every so often to keep it legally effective and relevant.
The most important thing to remember is that your will is always changing; whether you like it or not—your will should be a living document and can be changed as your situation changes over time. If you have young kids, for example, you'll want to keep more of your assets in trust so they won't lose out on an inheritance if they're still a minor when you pass away.
Also, there are certain things you might wish to leave to certain people—if your sister-in-law is diagnosed with breast cancer, and you know she wouldn't have health insurance otherwise, then you may decide to leave her a sum of money in your will. This is why it's so important to keep your will up-to-date; if you don't make any changes to reflect these new developments in your life and the lives of those around you, then it won't reflect how much that person means to you or what kind of relationship you have with them.
If you have any questions or in need a Will Attorney, we have the Best Attorneys in Utah. Please call this law firm for free consultation.
We help you with Estate Planning, Wills, Trusts, Power of Attorney, Health Care Directive, Estate Administration, Probate and More
Parklin Law - Estate Planning
5772 W 8030 S, # N206
West Jordan UT 84081
(801) 618-0699
40.605070, -112.027530
Disclaimer: This is not legal advice and is simply an answer to a question and that if legal advice is sought to contact a licensed attorney in the appropriate jurisdiction.
